New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Self Reliant India (SRI) Fund Scheme of the Ministry of

    MSME provides equity funding to those MSMEs which have the potential and viability to grow and become large units. What is the name of the mother fund under this scheme ?
    A NSIC Venture Capital fund Correct Answer Incorrect Answer
    B ASPIRE Fund Correct Answer Incorrect Answer
    C India Aspiration Fund Correct Answer Incorrect Answer
    D UP Startup Fund Correct Answer Incorrect Answer
    E SIDBI Fund of Funds for Startups Correct Answer Incorrect Answer

    Solution

    As a part of Aatmanirbhar Bharat package, Rs 50,000 crore Equity infusion for MSMEs through Fund of Funds was announced. In compliance with the announcement, Self Reliant India (SRI) Fund has been set up to infuse Rs. 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units. Under this Fund of Rs. 50,000 crore, there is a provision of ·         Rs.10,000 Crore from the Government of India and ·         Rs.40,000 Crore through Private Equity / Venture Capital funds. SRI fund operates through a mother-fund and daughter-fund structure for equity or quasi-equity investments . NSIC Venture Capital Fund Limited (NVCFL) which operates as Mother Fund in SRI Fund implementation, was registered as a Category-II Alternative Investment Fund (AIF) with SEBI, on 1st September, 2021.

    Practice Next